Ernst Russ (HXCK)

Business description

Ernst Russ (formerly HCI Group) is a listed asset and investment manager, with AUM of c €6.5bn, focused on shipping. The group was transformed in 2016 by the acquisitions of Ernst Russ Reederei and König & Cie, positioning it as a provider of a full range of services including technical and commercial ship management.

Stock data

Market cap.€44.1m
Last close€1.36
High / Low (52 weeks)€1.7 / €1.2
Stock market listingDB
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual(7.2)(18.6)0.7
Relative *(12.2)(12.2)(3.5)

* % Relative to local index

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Company news

Investment summary

Ernst Russ (ERAG) continued its efforts related to the shift in strategy, with the key drivers of the new group post acquisition being ship management (revenues more than doubled y-o-y in H117) and asset management (sales up 35.2% y-o-y). Management maintained its guidance for 2017 operating earnings at least in line with FY16 (€3.3m), amid some recovery in the container ships and bulker markets. ERG’s market cap/AUM ratio remains below the peer average, suggesting investor caution partly related to ongoing volatility in shipping markets.

Last updated on 04/10/2017

Key management

Jens Mahnke, CEO
Ingo Kuhlmann, CFO

Company address

Burchardstrasse 8
HAMBURG
20095
Germany
+49-40-888810
View website